Formalising a property settlement servers your financial ties and will prevent your former spouse from seeking an adjustment of property interests between you. If you have not entered into a formal property settlement, your former spouse may have a claim on your assets.
When a marriage or a de facto relationship ends, there are a lot of emotions being felt by both parties and those around them. There can be feelings of guilt, relief, anger and despair. These are all a very important part of the grieving and recovery process. As well as dealing with these emotions there are often questions about when issues of care arrangements for children, property settlement or divorce can be dealt with.